Guideline Value for KALADAI NAGAR

Kaladai Nagar guideline value

The current guideline value for Kaladai Nagar is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is located in Sholinganallur - 1 village under the Neelankarai SRO, and it falls under the Residential Class IV Type - I land classification.

How the guideline value of Kaladai Nagar has changed

The guideline value of Kaladai Nagar has seen several revisions over the years. In the 2017 revision, the value was set at Rs 1,005 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision reflects a further increase to Rs 1,700 per sq.ft, which is a 13% change from the previous year. It is important to note that the register has no figures for this street for the years 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 69%. This substantial change highlights the evolving valuation of properties in the area over the years.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Kaladai Nagar is below this median.

• Kalaingar Cross Street: Rs 3,300 per sq.ft (2024)
• Kalaingnar Karunanidhi Salai 2nd Cross Street (Near Canal): Rs 6,600 per sq.ft (2024)
• KALAINGNAR KARUNANIDHI SALAI (Akkarai Joint Street): Rs 6,600 per sq.ft (2024)
• Kadakuttai Main Street Extension: Rs 1,700 per sq.ft (2024)
• Kadakuttai Main Street: Rs 1,700 per sq.ft (2024)
• Kadakuttai 1st Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kaladai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total cost for these fees to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kaladai Nagar?

The Sub Registrar Office that covers Kaladai Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value plays a crucial role during the registration of property transactions in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. The guideline value is established by the Registration Department and is periodically revised to reflect changes in the market.

When a buyer or seller engages in a property transaction, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the costs involved in the transaction, based on the officially recognized value of the property.

Frequently asked questions

What is the current guideline value of Kaladai Nagar?

The current guideline value of Kaladai Nagar is Rs 1,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,005 per sq.ft to Rs 1,700 per sq.ft in 2024, reflecting a total increase of 69% over this period.

What are the other streets in Sholinganallur - 1 with their guideline values?

Other streets in Sholinganallur - 1 include Kalaingar Cross Street at Rs 3,300 per sq.ft, Kalaingnar Karunanidhi Salai 2nd Cross Street (Near Canal) at Rs 6,600 per sq.ft, and Kadakuttai Main Street at Rs 1,700 per sq.ft, among others.

What are the stamp duty and registration fees for property in Kaladai Nagar?

For a 1,000 sq.ft plot valued at Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000, resulting in a stamp duty of Rs 1,19,000 and a registration fee of Rs 34,000.

Which office handles property registrations for Kaladai Nagar?

The Neelankarai Sub Registrar Office handles property registrations for Kaladai Nagar, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.